Which of the following about costs is true?
a. The difference between the ATC and AVC curves will decline as output expands.
b. The AFC will remain constant as output increases.
c. If ATC is increasing, then AVC must be greater than ATC.
d. Implicit costs and fixed costs are always the same.
A
Economics
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What will be an ideal response?
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Unplanned inventory decreases: a. tend to result in an decrease in income
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